MKT421 Tutorial - 7080

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Price: $13.00
  • From: Business, Marketing
  • Posted on: Mon 09 Apr, 2012
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1.    The discounts can keep a flow of revenue in other than a normal market. Price setting and discounts is something that takes research to generate the needed profits for the company. The advertising and merchandising is important to get the customer to purchase your product as they are in the store. As a manager, how can we find out what our products are doing verses others in the same line? (150 word please)

2.     I have to agree there those customers that are just looking for the deal, or the lowest price. Price is always an issue with the product or service. That is to say you have to feel that you are getting your monies worth from the product and or service you are buying.  As a point to ponder, how would you settle the issue of price verses value for your customer? (150 word please)


3.    It is not always necessary to do away with a prior product with the introduction of a new one. A standard package of chocolate chip cookies is still something that has a target audience and as such removing them with the introduction of fewer calories version would not have a positive impact on sales. Why did you note a bigger market share, does this have an impact on product introductions?  (150 word please)

 

4.    Our reading for the week offers us some guidance as to pricing policies and thoughts on the objectives to be met.  As to pricing and quality in many cases this is a fact as the lower price is the result of less costly materials and or labor. Now with that said what about pharmaceutical drugs? As a point to ponder, what are some of the most important aspects of pricing as it relates to the manufacturer? (150 word please)


 

Solution Description

1.    The discounts can keep a flow of revenue in other than a normal market. Price setting and discounts is something that takes research to generate the needed profits for the company. The advertising and merchandising is important to get the customer to purchase your product as they are in the store. As a manager, how can we find out what our products are doing verses others in the same line? (150 word please)

As a manager there are a number of options open to find out how our products are doing versus others in the same line. However, there is a fine line between what is legal and what is not. Spying on competitors confidential information, commonly known as commercial espionage is illegal while finding out information about competitors from sources that are supposed to be in public access is known as competitive intelligence. Competitive Intelligence is important to stay up to date with the advances in the industry and to avoid any unpleasant surprises from the competitors. Information regarding the competitors can be found using newspapers since it gives a lot of information about new product launches. New brands wi